Batangas geothermal plant starts operations
Rappler - 2014-02-10
MANILA, Philippines - The 20-megawatt (MW) Maibarara power plant began commercial operations in Sto ... with PetroGreen Energy Corporation (PGEC), a wholly-owned subsidiary of PetroEnergy Resources Corporation (PERC), holding 65% ownership.

ABS-CBN says likely met P2B profit goal for 2013
interaksyon.com - 2014-02-10
MANILA - ABS-CBN Corp on Monday said it expects to earn P2 billion this year despite the absence of political advertisements. "The guidance is still a range between P1.8 billion to P2 billion in net income in 2014 even without the political ads," ABS ...

PH heritage as a springboard to the future
Inquirer - 2014-02-09
When your firm belongs to one of the oldest conglomerates in the country--when your bank was established long before the Philippines even declared independence--you have good reason to focus on history. So it is for the Bank of the Philippine Islands ...

PH stock market posts modest gains as investors play it safe
interaksyon.com - 2014-02-06
I-Remit and Primex. "You can't fault investors for playing safe. Everybody wants to see a clear picture of the investment environment before making strong bets," said Astro del Castillo, managing director of First Grade Finance Inc. The main gauge was up ...

Prospects for Development of an Asian LNG Trading Hub
JD Supra - 2014-02-05
As it stands, Asia already holds the majority of the world's regasification capacity, with nearly 50% of worldwide capacity held by North Asian terminals alone. For the development of a trading hub, LNG receiving terminals are required that permit third ...

Pagcor E-Games operator to conduct maiden share offering in 3Q
interaksyon.com - 2014-02-05
MANILA--Premiere Horizon Alliance Corp will be offering its gaming subsidiary's shares to the public for the first time in the third quarter this year. In a disclosure to the Philippine Stock Exchange, Premiere Horizon said the initial public offering ...

Chemphil to get P130 M from sale of LMG stake
Philstar - 2014-02-05
MANILA, Philippines - Chemical Industries of the Philippines Inc. (Chemphil) stands to generate more than P130 million from the sale of its majority stake in LMG Chemicals Corp. "The company will be able acquire funds for short-term and long-term debt ...

Central Azucarera to resume trading
Manila Standard Today - 2014-02-05
Shares of Central Azucarera de Tarlac Inc., the sugar milling company owned by the Cojuangco family, will resume trading today, or more than eight months after trading of the stock was suspended. The Philippine Stock Exchange on Tuesday approved the ...

SEC lifts suspension on Central Azucarera de Tarlac
interaksyon.com - 2014-02-04
MANILA - The Securities and Exchange Commission (SEC) has lifted the suspension on Central Azucarera de Tarlac (CADT), allowing the sugar miller to sell securities to the public. In a disclosure to the Philippine Stock Exchange, the Cojuangco-controlled ...

SEC lifts suspension on Central Azucarera de Tarlac
interaksyon.com - 2014-02-04
MANILA - The Securities and Exchange Commission (SEC) has lifted the suspension on Central Azucarera de Tarlac (CADT), allowing the sugar miller to sell securities to the public. In a disclosure to the Philippine Stock Exchange, the Cojuangco-controlled ...

SC orders DOJ to include new evidence in Jonas Burgos probe
GMA Network - 2014-02-04
Jonas, a political activist and son of the late press freedom fighter Jose Burgos, was abducted in a restaurant at the Ever Gotesco Mall along Commonwealth Avenue in Quezon City on April 28, 2007. Jonas was believed seized by the military because the ...

FILINVEST DEVELOPMENT CORP
Economic Times - 2014-02-04
GMR Infrastructure is battling allegations of conflict of interest from a rival bidder which failed to match its financial offer for a prestigious airport project in the Philippines.

SC orders DOJ to look into new info on Jonas Burgos
Rappler - 2014-02-03
Jonas Burgos - who is turning 44 on March 29 - was abducted by suspected members of the military in Hapag Kainan restaurant at Ever Gotesco mall in Quezon City 6 years ago, on April 28, 2007. A son of the late press freedom icon Joe Burgos, Jonas studied ...

Stocks start week in the red
Philstar - 2014-02-03
... A', Jolliville Holdings Corp., Millennium Global Holdings, Inc., SPC Power Corp. and Republic Glass Holdings Corp. Total volume amounted to 791.14 million valued at P5.64 billion. Decliners outpaced advancers 99 to 50, while 50 issues stayed the same.

Anglo Philippine Holdings Corp (APO)
investing.com - 2014-02-03
Anglo Philippine Holdings Corporation is an investments holding company. The Company is focused on natural resources, property development and infrastructure activities. The Company's segments pertain to its investments in associates. Atlas Consolidated ...

METROPOLITAN BANK AND TRUST COMPANY
Economic Times - 2014-02-01
LIC has major defaulters in Aditya Birla Telecom Limited, Vodafone Infrastructure and Bharat Petroleum Corporation Limited, according to data by I-T.

Chemphil unloads LMG stake
Philstar - 2014-01-31
MANILA, Philippines - Chemical Industries of the Philippines Inc. (Chemphil) is unloading its majority stake in LMG Chemicals Corp. to a business group, one month after pushing back the share sale. "The majority of the directors present voted to approve ...

ALI units joining Mandaue project
Manila Standard Today - 2014-01-31
Ayala Land said in a disclosure to the stock exchange units Cebu Holdings Inc. and Cebu Property Ventures & Development Corp. were given the rights to subscribe to 10 percent and 5 percent, respectively, of the authorized capital of the joint venture with ...

Ayala seals purchase of stake in GNPower's coal plant in Bataan
interaksyon.com - 2014-01-30
In a disclosure to the Philippine Stock Exchange, Ayala Corp said wholly-owned AC Energy Holdings Inc closed the purchase of a 17-percent stake in GNPower Mariveles Coal Plant Ltd Co (GMCP). Ayala did not say how much it paid for the transaction in which ...

Chemphil board approves sale of entire stake in LMG
interaksyon.com - 2014-01-30
MANILA - The board of Chemical Industries of the Philippines Inc (Chemphil) has approved a plan to sell the company's entire stake in LMG Chemicals Corp to a third party. In a disclosure to the Philippine Stock Exchange, Chemphil said it would sell its 69 ...

Chemphil board approves sale of entire stake in LMG
interaksyon.com - 2014-01-30
MANILA - The board of Chemical Industries of the Philippines Inc (Chemphil) has approved a plan to sell the company's entire stake in LMG Chemicals Corp to a third party. In a disclosure to the Philippine Stock Exchange, Chemphil said it would sell its 69 ...

Aboitiz group sets P78B power investments
Rappler - 2014-01-29
MANILA, Philippines - The Cebu-based Aboitiz group is spending P78 billion this year to build new power plants amid tightening energy supply in the country. The amount accounts for bulk of the P88-billion capital expenditure (capex) budget earmarked by ...

Drawbacks Of Forming A Joint Venture
Law 360 - 2014-01-28
See BDO Seidman v. Hirshberg, 93 N.Y.2d 382 ... Increase in Potential Liability Another downside of participating in a joint venture is the increase in potential liability, as described below: Breach of Contract. Because joint-venture entities invariably ...

7-Eleven expanding in Iloilo, Davao
Manila Bulletin - 2014-01-28
As a follow-up to its recent ventures in Cebu and Bacolod, the strong pace of growth continues into 2014 for Philippine Seven Corporation (PSC) as the exclusive licensee of world-renowned convenience store chain brand 7-Eleven pushes through its planned ...

Century Properties posts record sales, sets P17-B new projects
Manila Bulletin - 2014-01-28
Century Properties reported a 15 percent growth in reservation sales in 2013 to P24.6 billion, the highest level it achieved in its 27-year history, while preparing to launch P17 billion worth of projects this year. In a statement, the firm said ...

Ongpin vs Ashmore: The real deal
Rappler - 2014-01-28
He wants it grander than Tagaytay Highlands where his former partners kicked him out over a decade ago. (A mining asset of Atok Big Wedge owned by Ongpin and Ashmore is also located in Itogon.) Ongpin confirmed a report that local banks have shut him out ...

Alsons says close to finishing feasibility study for 1st hydropower plant
interaksyon.com - 2014-01-28
Tirso G. Santillan, Jr., Alsons Consolidated Resources Inc (ACRI) executive vice president, told reporters that subsidiary Alsons Energy Development Corp is on track to starting the 16-megawatt (MW) Siguil hydropower project in Maasim, Sarangani.

Century Properties to launch P17B in new projects for 2014
interaksyon.com - 2014-01-28
MANILA - Century Properties Group Inc is launching at least P17 billion worth of new projects this year after raking in record reservation sales. In a statement, Century Properties chairman and chief executive officer Jose EB Antonio said the new projects ...

Selloff pulls down PH stock market near 6,000 support
interaksyon.com - 2014-01-28
The top gainers were Island Information, Lorenzo Shipping and PAL Holdings, while the biggest losers were Federal Resources, United Paragon and Mabuhay Holdings. "The market remains weak. Investors are risk averse. Volatility in global markets has been on ...

Filipino-Chinese New Year's myths and traditions
Philstar - 2014-01-27
Meanwhile Liz Mae Ong, 18, a Filipino-Chinese dentistry student at the Centro Escolar University, said offering fruits and lighting Chinese candles are also part of the Chinese traditions during the New Year. "We offer fruits, and light our Chinese candles ...

Filinvest Land mulls mixed-use project to replace Philcomcen Tower
interaksyon.com - 2014-01-27
MANILA - Filinvest Land Inc (FLI) will demolish this year the Philcomcen Tower at the Ortigas business district to clear the way for a new mixed-use building. FLI president and chief executive officer Josephine Gotianun-Yap last week told reporters that ...

Stock market may sustain momentum
Manila Standard Today - 2014-01-27
Among the top weekly top gainers were NextStage Inc., which jumped 59.3 percent to P3.41; Abra Mining and Industrial Corp., which climbed 58 percent; and Manila Mining "A" and "B" shares which gained 35.2 percent and 33.3 percent, respectively.

Filinvest set to start Philcomcen project
Manila Standard Today - 2014-01-27
Property developer Filinvest Land Inc. said it plans to demolish the former Philcomcen building in Ortigas within the year and build a new high-rise building on the site. Filinvest Land recently acquired the property from state-run Government Service ...

Towards a forward-looking monetary policy framework
Manila Bulletin - 2014-01-26
The banking and financial sector is the major contributor to economic development. In appreciation, the Monetary Board, the policy-making body of the Bangko Sentral ng Pilipinas (BSP), chaired by Governor Amando M. Tetangco, Jr., held the traditional ...

Filinvest group confident it can snatch Mactan airport project from top bidder
interaksyon.com - 2014-01-24
MANILA - Filinvest Development Corp (FDC) is confident that the government would rule in its favor in the bidding for the P17.5-billion Mactan Cebu International Airport (MCIA) Project. "We are confident that the DOTC-BAC will be following the bidding rules.

On The Horizon -- Renewable Energy In Asia: Singapore
JD Supra - 2014-01-23
1. What are the driving factors for increasing renewable energy production in Singapore? Prompted by concerns about climate change, fossil fuel depletion, and increasing urbanization, Singapore, a low-lying, densely populated, urban island in the tropics ...

Del Monte Pacific secures Singapore bourse nod to acquisition of US firm
interaksyon.com - 2014-01-23
MANILA - The Singapore Exchange (SGX) has approved in principle Del Monte Pacific Limited's $1.68-billion acquisition of the consumer food business of a California-based firm. In a disclosure to the Philippine Stock Exchange (PSE), Del Monte Pacific said ...

Stocks rise for 7th day
Philstar - 2014-01-23
Top gainers included Megaworld Corp., Filipino Fund, Inc., iRipple, Inc., Seafront Resources Corp. and Medco Holdings, Inc. Biggest losers, on the other hand, included Ever-Gotesco Resources and Holdings, Inc., Roxas and Company, Inc., United Paragon ...

LT Group ups stake in PNB to 60%
Philstar - 2014-01-22
Late last year, LTG secured approval from the Hong Kong Monetary Authority (HKMA) to own a majority stake in Allied Banking Corp. (Hong Kong) Ltd., which is a crucial move to finalize the merger between Allied Bank and PNB. Aside from its more than 200 ...

Skyway 3 to cut Buendia-Balintawak travel time to 20 minutes
Philippine Daily Inquirer - 2014-01-22
The President said the reason why such plans were delayed was because the Construction and Development Corporation of the Philippines (now the Philippine National Construction Corporation or PNCC) then was still not capable of such projects. However ...

INFOGRAPHIC: How WESM affects your electricity bill
Rappler - 2014-01-22
MANILA, Philippines - The Supreme Court on Tuesday, January 21 heard oral arguments on the P4.15 per kilowatt-hour increase in the rates of the country's largest power distributor, Manila Electric Company (Meralco). (READ: Meralco inflated charges ...

No need for actual evidence to prove collusion between Meralco, generation firms
Philippine Daily Inquirer - 2014-01-21
MANILA, Philippines--There is no need for actual evidence to show that there is collusion between the Manila Electric Company (Meralco) and the generation companies that could have led to the spike in electricity rate. Chief Justice Maria Lourdes Sereno ...

Makati court bars sale of Bloomberry shares
Rappler - 2014-01-20
MANILA, Philippines - Enrique Razon Jr.-led Bloomberry Resorts Corporation won a court order preventing the sale of its shares held by a Las Vegas-based management firm that used to run its Solaire casino in Manila. On Monday, January 20, the Makati ...

PH stock market closes above 6,000-mark
interaksyon.com - 2014-01-20
Most actively traded stocks were BDO, PLDT, Ayala Land, SM Investments and SM Prime. Top gainers were NextStage, Filipino Fund and Seafront Resources, while the biggest losers were Benguet A, Leisure & Resorts warrants, and Macroasia. "As has been the ...

PH stock market closes above 6,000-mark
interaksyon.com - 2014-01-20
Most actively traded stocks were BDO, PLDT, Ayala Land, SM Investments and SM Prime. Top gainers were NextStage, Filipino Fund and Seafront Resources, while the biggest losers were Benguet A, Leisure & Resorts warrants, and Macroasia. "As has been the ...

8 new Airbus aircraft for Cebu Pacific this year
Rappler - 2014-01-20
Jorenz TaƱada, vice president for corporate affairs of Cebu Air Inc. The new acquisitions will augment its current fleet of 48 planes: 10 Airbus A319s, 28 Airbus A320s, 2 Airbus A330s, and 8 ATR 72-500s. "The A330s will be utilized to expand our long-haul ...

On The Horizon - Renewable Energy in Asia: The Philippines
JD Supra - 2014-01-16
The world has recently witnessed some of the most catastrophic natural events in human history -- extreme hurricanes, severe droughts, and unexpected hailstorms, among others -- causing economic and social disruption. The Philippines has not been spared ...

Victorias Milling posts higher profit
Philstar - 2014-01-16
MANILA, Philippines - Listed sugar miller Victorias Milling Co. Inc.(VMC) registered a 52 percent increase in net income in the first quarter of its fiscal year on increased raw sugar sales. In a regulatory filing, the company reported a consolidated net ...

RFM buys Unilever's Royal pasta for P2B
Rappler - 2014-01-16
MANILA, Philippines - Food and beverage company RFM Corporation of the Concepcion family will acquire the Royal pasta business of the Unilever group for P2.1 billion. In a disclosure to the Philippine Stock Exchange on Thursday, January 16, RFM president ...

Making mangga + bagoong an odorless, lucrative business
entrepreneur.com.ph - 2014-01-16
It was put up by a group of young entrepreneurs headed by Jessie ... the Bureau of Internal Revenue, the Social Security System (for compliance with employee benefits), Food and Drug Administration, and applicable local government units (for Mayor ...